How to Add Product Costs

Adding product costs is essential for accurate profit tracking. The Cost of Goods Manager is the easiest and most efficient way to add and manage costs for your products.

Cost of Goods Manager (Recommended)

The Cost of Goods Manager provides a centralized interface for managing all your product costs in one place. It’s designed for efficiency, whether you’re adding costs to a few products or hundreds.

Accessing the Manager

1. Go to Alpha Insights → Cost of Goods Manager
2. You’ll see a table showing all your products with their current prices and costs

Adding Costs Individually

1. Find the product in the table (use search or filters if needed)
2. Click in the Cost column for that product
3. Enter the cost value (e.g., 25.00)
4. Press Enter or Tab to save and move to the next product
5. Click Save All Changes when you’re done

Pro Tip: The inline editing lets you quickly tab through multiple products, making it much faster than editing individual product pages.

Working with Variable Products

Variable products show each variation as a separate row in the Cost of Goods Manager, allowing you to set costs for each variation individually:

• T-Shirt – Small: $12.00
• T-Shirt – Medium: $12.50
• T-Shirt – Large: $13.00

Bulk Actions

The Cost of Goods Manager includes powerful bulk editing features:

Set Cost by Margin:

1. Select products using the checkboxes
2. Click Bulk Actions → Set Cost by Margin
3. Enter your target profit margin % (e.g., 40%)
4. The system calculates the cost based on your price and desired margin

Adjust Multiple Costs:

1. Select the products you want to adjust
2. Choose Bulk Actions → Adjust Costs
3. Enter a percentage increase or decrease (e.g., +10% or -5%)
4. Apply the changes

This is perfect when supplier prices change and you need to update costs across your catalog.

Filter and Search Features

Find products quickly using the built-in tools:

• Search: Search by product name or SKU
• Category Filter: Filter by product category
• Missing Costs: Show only products that don’t have costs yet
• Sort: Click any column header to sort

These filters are especially helpful for focusing on products that need attention.

CSV Import Method

Best for: Large catalogs, importing from supplier price sheets, or initial bulk setup

1. Go to Cost of Goods Manager → Import/Export
2. Click Download Template to get the correct CSV format
3. Fill in your CSV file:
   • Column A: Product ID or SKU
   • Column B: Cost
4. Save as CSV
5. Click Upload CSV
6. Review the preview to ensure everything looks correct
7. Click Import

See CSV Import Guide for more details

Editing from Product Pages

You can also add or update costs directly from WooCommerce product edit pages:

Simple Products:

1. Go to Products → All Products
2. Click on a product to edit
3. In the Product Data section, find the Cost field
4. Enter your cost
5. Click Update

Variable Products:

1. Edit the variable product
2. Go to the Variations tab
3. Expand each variation
4. Enter the cost for each variation
5. Click Save changes

Note: While you can update costs from product pages, the Cost of Goods Manager is generally more efficient, especially when working with multiple products.

What Cost to Enter

Physical Products

Enter: What you paid your supplier per unit

Example: Wholesale cost $15, you sell for $39 → Enter $15

Dropshipping

Enter: What you pay your supplier per fulfilled order

Example: Supplier charges $22 per unit → Enter $22

Digital Products

Enter: Production cost (if any)

• If no production cost: $0
• If created content: Development cost ÷ expected sales

Handmade Products

Enter: Materials cost only (not labor)

Labor should be tracked as an operating expense (salaries/wages)

Bundled Products

Enter: Sum of all items in the bundle

Example: T-Shirt ($15) + Hat ($8) = Bundle cost $23

Tips for Success

Start with Top Sellers

• You don’t need to add costs for every product immediately
• Start with your 20-50 best-selling products
• Add more costs over time as needed
• Use the “Missing Costs” filter to see what still needs attention

Use Estimates if Needed

• An approximate cost is better than no cost
• You can update costs later when you get exact figures
• Historical orders will recalculate when you update costs

Track Cost Changes

• When supplier prices change, update your costs
• Alpha Insights uses the cost from the order date for historical accuracy
• You can set date-specific costs for major price changes

Include Shipping from Supplier

If your supplier charges shipping:

• Include it in the product cost (e.g., $20 product + $3 shipping = $23 cost)
• Or track supplier shipping separately in custom costs

Verification

Check Costs Were Saved

1. Go to the Cost of Goods Manager
2. Verify costs appear in the table
3. Spot check a few products

Verify Profit Calculation

1. Go to the Alpha Insights Dashboard
2. Check that profit metrics have updated
3. View a recent order
4. Verify the profit breakdown includes product costs